Financial Patenting in Europe

19 Pages Posted: 2 Jun 2010

See all articles by Bronwyn H. Hall

Bronwyn H. Hall

University of California at Berkeley; National Bureau of Economic Research (NBER); Institute for Fiscal Studies (IFS); Max Planck Institute for Innovation and Competition

Grid Thoma

University of Camerino

Salvatore Torrisi

Department of Economics, Management and Statistics; Bocconi University

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Date Written: 2009

Abstract

We take a first look at financial patents at the European Patent Office (EPO). As is the case at the United States Patent and Trademark Office, the number of financial patents in Europe has increased significantly in parallel with significant changes in payment and financial systems. Scholars have argued that financial patents, like other business methods patents, have low value and are owned for strategic reasons rather than for protecting real inventions. We find that established firms in non-financial sectors with diversified patent portfolios own a large share of financial patents at the EPO. However, new specialized technology providers in the financial area also hold a number of such patents. Decisions on the financial patent applications take longer and they are more likely to be refused by the patent office, suggesting greater uncertainty over validity than for other patents. They are also more likely to be opposed, which is consistent with the fact that their other economic value indicators are higher.

Suggested Citation

Hall, Bronwyn H. and Thoma, Grid and Torrisi, Salvatore, Financial Patenting in Europe (2009). European Management Review, Vol. 6, Issue 1, pp. 45-63, 2009, Available at SSRN: https://ssrn.com/abstract=1619532 or http://dx.doi.org/10.1057/emr.2009.3

Bronwyn H. Hall

University of California at Berkeley ( email )

549 Evans Hall #3880
Berkeley, CA 94720-3880
United States

HOME PAGE: http://emlab.berkeley.edu/users/bhhall/index.html

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Institute for Fiscal Studies (IFS)

7 Ridgmount Street
London, WC1E 7AE
United Kingdom

Max Planck Institute for Innovation and Competition

Marstallplatz 1
Munich, Bayern 80539
Germany

Grid Thoma

University of Camerino ( email )

School of Sciences and Technology
Computer Science Division
Camerino, Macerata 62032
Italy

Salvatore Torrisi (Contact Author)

Department of Economics, Management and Statistics ( email )

Piazza dell'Ateneo Nuovo, 1
Milano, Milan 20126
Italy

HOME PAGE: http://https://www.unimib.it/salvatore-torrisi

Bocconi University ( email )

Via Sarfatti, 25
Milan, MI 20136
Italy

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